On April 12, 2023, the major U.S. stock market indices closed mixed, with the S&P 500 and the Dow Jones Industrial Average (DJIA) posting gains while the Nasdaq Composite fell slightly.
The S&P 500, which measures the performance of 500 large-cap U.S. companies, rose 0.3% to close at 4,108.94. The gain was driven by strong performances from technology and healthcare stocks, which offset losses in other sectors such as energy and financials.
The DJIA, which tracks the stock prices of 30 blue-chip companies, gained 0.29% to close at 33,684.79. The increase was led by gains in Microsoft, which rose 2.7%, and Johnson & Johnson, which gained 1.5%.
On the other hand, the Nasdaq Composite, which is heavily weighted towards technology stocks, fell 0.1% to close at 12,031. The decline was due to a sell-off in shares of big tech companies like Apple and Amazon, which both fell around 1%.
Investors continue to keep a close eye on inflation and interest rates, with concerns about rising prices and the potential for the Federal Reserve to increase interest rates weighing on the markets. However, positive economic data, including strong jobs numbers and increased consumer spending, helped to buoy investor sentiment.
Overall, the U.S. stock market continues to be resilient, with many analysts predicting further gains in the coming months as the economy continues to recover from the pandemic. However, investors should remain cautious and keep a diversified portfolio to manage risks in a volatile market.
European equities rose led by mining stocks as investors positioned ahead of the US inflation report to be released this week. The MSCI Europe closed at 155.22 (+0.57% DoD).
Asian stocks rose slightly due to positive expectations that central banks in the region may slow down or temporarily stop raising interest rates in order to sustain economic growth, regardless of any actions taken by the US Federal Reserve. The MSCI APxJ index increased by 0.65% on a day-to-day basis and closed at 526.08.